We already know this, but it is worth reminding ourselves. We are lucky to have the political and business environment that we have in the Gulf of Mexico. We may complain about government regulation or the cost of operation, but every once and a while we see something that emphasizes how much we benefit from the stability of the Gulf. This week’s reminder was the brinksmanship going on between China and Vietnam over drilling in a contested area of the South China Sea:
We can’t even imagine that sort of scenario playing out in the Gulf. While Cuba’s intentions have been a wild card, the negotiations between Mexico and the U.S. over drilling areas have been such a model of win/win diplomatic negotiations that many are not even aware they have been happening.
It is worth pausing every once and a while to remember that thousands of jobs and nearly a quarter of our domestic oil come from our offshore oil and gas industry. We never haver have to get up in the morning and wonder if the industry will be shut down by a coup or international chest thumping.